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Guide For First Time Home Buyers - Step 3
Guide For First Time Home Buyers - Step 3
 
 
Step 3: Meet with a lender
 
If you're having difficulty with Step 2 and determining what you can afford, your lender will help you with this, as well.
 
When I first meet with my clients, I always have a list of trusted lenders I have used and had successful experiences with. Make sure to ask your REALTOR for their recommendation on lenders they're familiar with and trust.
 
When you set up an appointment with a lender, you want to be prepared. Here is a list of things you should have prepared for them before your first meeting with your lender:
 
-An idea of the size of loan you think you can qualify for
-The monthly payment you will be comfortable with
-How much of a down payment you plan to make
-Personal information (name, phone number, address, date of birth, etc...)
-Your Social Security number
-Your income and expenses (pay stubs, W2, bank statements, etc...)
 
The purpose of meeting with your lender very early in the process is to  prequalify for a loan. When you find the home you want to make an offer on you must have your pre-approval ready to submit along with the offer. The seller will want to ... more

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